Crude, Gold Updates with MCX Market Data

Crude Trend

Brent crude stayed above $100 per barrel on Thursday, after a more than 2 percent rally in the prior session, as uncertainty over whether the U.S. Federal Reserve would launch more stimulus measures curbed investor appetites for riskier assets.

Minutes from the central bank's June meeting suggested the U.S. economy may need to worsen before the majority of policymakers will consider a third round of bond buying that could weaken the greenback and draw investors to buy dollar-denominated commodities. In indian Commodity crude Showing down trend for today's trading. 

Commodity Updates

GOLD EDGES UP AFTER TUMBLING ON EURO ZONE WORRIES.

OIL RISES AFTER NORWAY SELL-OFF.

COPPER EDGES UP, IN TIGHT RANGE AHEAD OF CHINA GDP.

INDIAN SPICES TRADE BEARISH ON WEAK EXPORT DEMAND. 

MCX Market Data

Date	Time	Currency	Economic Data	Forecast	Previous
THU 12TH JULY 2012	6:00pm	USD	Unemployment Claims	376K	374K
	6:00pm	USD	Import Prices m/m	-1.5%	-1.00%
	8:00pm	USD	Natural Gas Storage	27B	39B
	10:30pm	USD	30-y Bond Auction		2.72|2.4
	11:30pm	USD	Federal Budget Balance	-91.7B	-124.6B

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MCX Commodity Updates, Live Trend for Indian Commodity

Silver slightly up by 0.20%, while base metals also shows some good result.

Crude Updates

Nymex crude oil prices gained around 1.5 percent today on account of expectations of decline in US crude oil inventories coupled with  weakness in the DX. Crude oil prices touched an intra-day high of $85.22/bbl and hovered around $85.20/bbl today till 4:30pm IST. On the domestic bourses, prices declined by 0.6 percent on the back of appreciation in the Indian Rupee and was trading around Rs.4,722/bbl today.

Base Metals and Bullion Updates 

The base metals complex traded on a positive on the back of weakness in the DX along with decline in LME inventories. Copper, the leader of the base metals group gained around 0.4 percent on account of decline in LME copper inventories by 0.4 percent which stood at 252,350 tonnes. The red metal touched an intra-day high of $7,538.25/tonne and hovered around $7,530/tonne. In the Indian markets prices declined around 0.1 percent on account of appreciation in the Indian Rupee.

Taking cues from rise in gold prices coupled with upside in base metals, Spot silver prices increased by 1.3 percent today. Additionally, weakness in the DX also helped upside in silver prices. The white metal touched an intra-day high of $27.18/oz and was trading around $27.12/oz today. On the domestic front, prices traded on a flat note and hovered around Rs.52,668/kg till 4:30pm IST today. However, appreciation in the Indian Rupee capped further gains in prices. Silver can show some more buying senario,  At 16:05 hrs MCX SILVERMIC August contract was trading at Rs 52655.00 down Rs 36.00, or 0.07%. The SILVERMIC rate touched an intraday high of Rs 52840.00 and an intraday low of Rs 52480.00. So far 5331 contracts have been traded. SILVERMIC prices have moved down Rs 9345.00, or 15.07% in the August series so far. At 16:05 hrs MCX SILVERMIC November contract was trading at Rs 54344.00 down Rs 71.00, or 0.13%. The SILVERMIC rate touched an intraday high of Rs 54502.00 and an intraday low of Rs 54161.00. So far 5561 contracts have been traded. SILVERMIC prices have moved down Rs 6546.00, or 10.75% in the November series so far.  

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Live MCX Commodity Trend

All Commodity market was on under pressure, all metals gold Silver and other base metals showed down trend for today's trading we expect more down side presusre from aall base & precious metals. 

Live MCX Updates

- GOLD DRAWS STRENGTH FROM DOLLAR DECLINE.

- OIL FALLS BELOW $99 ON WEAK CHINA DATA, NORWAY STRIKE ENDS.

- COPPER DIPS AFTER WEAK CHINA IMPORTS, AWAITS STIMULUS.

- DOMESTIC OIL AND OILSEED TRADE BULLISH ON DROUGHT CONCERNS.

MCX Live Market Data

Date	Time	Currency	Economic Data	Forecast	Previous
WED 11TH JULY 2012	6:00 PM	USD	Trade Balance	-48.5B	-50.1B
	7:30pm	USD	Wholesale Inventories m/m	0.40%	0.60%
	8:00pm	USD	Crude Oil Inventories	-1.4M	-4.3M
	10:30pm	USD	10-y Bond Auction		1.62/3.1
	11:30pm	USD	FOMC Meeting Minutes

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Commodity Live Updates, Crude Trend

Commodity Updates

World's largest gold producer, China, gold out put recorded growth of 6.59% y-o-y, reaching to 140.7 tonnes during the first five months(January- May) of this year, according to the official data released by Ministry of Industry and Information Technology. The statement says that China produce 31.2 tonnes of gold in the month of May 2012. 

In MCX India Gold seems bullish from the level of 30000-30200, else from the level of 29600 it may be bearish. 

A pull back in crude oil prices cannot be ruled out despite the uncertain and weak macro-economic environment, according to some analysts. On technical charts, the mid-range close on Wednesday suggest a steady opening in US markets for Thursday night session, HY Markets said. According to SMC Comtrade, MCX Crude oil July contract may trade sideways in range of 4700-4850 in near term. Oil fell in New York on speculation data from Europe to the U.S. will signal an economic slowdown that threatens to cut demand.

Live MCX Trend

GOLD RISES AHEAD OF ECB, REAL FOCUS ON US JOBS.

OIL RISES ON NORWEGIAN LOCK OUT MOVE.

COPPER, ALUMINIUM FLAT AHEAD OF EXPECTED ECB RATE CUT.

INDIAN SPICES TRADE UP ON RISING DEMAND.

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Live MCX Commodity Tips

Gold Live Updates

In Indian MCX Commodity Market Gold agkain trade on positive side. Spot gold prices traded on a flat note in today’s session due to negative global market sentiments coupled with, strength in the Dollar Index (DX) added pressure on prices. The yellow metal prices touched an intraday high of $1620.09/oz and hovered around $1614.99/oz today till 4:30 p.m IST. In the domestic market prices increased around 0.17 percent today and was trading around Rs.29,523/10 gms today.

Copper Trend

Copper showing some down side sentiments, but form the level of 428.10 it can be for buy.Copper, the main indicator of the base metals declined by 0.7 percent today and hovered around $7,727.50/tonne after touching an intra-day low of $7,711.25/tonne till 4:30pm IST today. On the domestic front, prices declined by 0.2 percent and was trading around Rs./kg today. However, depreciation in the Indian Rupee restricted steep fall in red metal prices.

Nymex crude declined 0.75 percent amid concerns of global economic slowdown which would cut demand for the oil and touched a low of $86.50/bbl today.

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Live MCX Commodity Tips & Updates

Gold MCX Trend

Gold Again closed on lower side and showing selling pressure from last some days. Gold almost down by 0.70% on last trading session. Silver showing some positive trend and traded on plus side by 1.07%.

Copper Live Updates

Copper hit a six-week high on Tuesday, joining a global rally in financial markets on prospects of further monetary easing by central banks, helping to allay worries about the impact of the euro zone crisis.

A surprise rise in top metals consumer China's services sector, which expanded at its fastest pace in three months in June, also lifted market sentiment. 

Three-month copper on the London Metal Exchange jumped 2.5 percent to a session high of $7,815 a tonne on Tuesday, its highest since May 22, before paring some of those gains to $7,751 per tonne by 0944 GMT from a $7,625 close on Monday. 

Crude Oil Updates

Oil surged to a one-month high on speculation that central banks from Europe to China will ease monetary policy to spur growth while sanctions against Iran curb supply. The European Central Bank is forecast to cut interest rates this week. A state-owned newspaper in China said the time is right to increase liquidity in the banking sector. Iran fired several missiles during a military exercise as it threatened to block tanker traffic in the Strait of Hormuz.

Oil futures for August delivery climbed 4.7 percent to $87.66 a barrel on the New York Mercantile Exchange. Brent oil for August settlement gained 3.1 percent to $100.40 a barrel on the London-based ICE Futures Europe exchange.   

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